An Instructional Exercise in Price Controls: Product Quality, Misallocation, and Public Policy

Abstract A price control policy has several potential effects upon market welfare. These include deadweight loss, surplus transfer from producer to consumer, misallocative cost, and quality degradation. The present article provides accessible pedagogical models with which to incorporate the former two issues into a welfare analysis of price control. The analysis allows students to form a more complete understanding of price control policies.

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Year of publication:	2012
Authors:	Weisman, Dennis L. ; Sanders, Shane D. ; Moundigbaye, Mantobaye
Published in:	Journal of Industrial Organization Education. - De Gruyter, ISSN 1935-5041, ZDB-ID 2263126-4. - Vol. 6.2012, 1
Publisher:	De Gruyter
Subject:	price controls \| product quality \| misallocation

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Type of publication:	Article
Type of publication (narrower categories):	research-article
Language:	English
Other identifiers:	10.1515/1935-5041.1043 [DOI]
Source:	Other ZBW resources

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